Technology South America Exclusives

Brazil oil and gas workers, oil jobs, offshore oil and gas, E&P

The E&P sector is among the areas expected to see a hiring boost with 44 offshore production systems scheduled to start operating in Brazil by 2030, a study shows.

The program aims to reduce capex and opex for production offshore in areas such as subsea systems, surface systems, processing and construction, starting with 39 R&D projects.

The promise of big discoveries offshore South America is set to continue for years to come.

Petrobras debt, Petrobras asset sales

Despite the amount of money generated by sales so far, the company’s current financial situation still worries investors.

Petrobras, digital transformation, blockchain, Augusto Hougaz, oil and gas technology

Petrobras’ business plan includes spending $6.63 billion on infrastructure and R&D, including investments in the digital transformation area.

Contracts South America

Under the TechnipFMC/DOF JV agreement, TechnipFMC will manage flexible pipelay, and DOF will be responsible for marine operations.

The comptroller’s office and lawmakers opened probes into the contracts after learning former president Pedro Pablo Kuczynski had signed a decree approving them while his government imploded in a graft scandal last month.

Alliance will explore joint projects in Brazil and beyond.

Petrobras has awarded Aker Solutions a four-year services contract for offshore Brazil, the company said on Feb. 8.

The company said in a securities filing that it would pay 1.7 billion reais (US$538.5 million) in 12 monthly installments beginning this month.

Digital South America

digital technology, oil and gas, subsea, Petrobras, Aker, Brazil

Executives from oil and gas, supply and technology companies met in Rio de Janeiro to discuss the latest oil and gas technology trends.

Equipment South America

According to the Brazilian major, the company’s PLSV fleet might have 16 vessels by year-end, two less than what were under contract in 2017.

With the necessity of the development of ultradeepwater projects located in the presalt layer, many FPSO unit building companies eye Brazil as a good opportunity to ensure new contracts.

Libra, a giant oil field located in Brazil’s presalt area, will boost many business opportunities over the next years.

Four years after Total and its partners paid 622 million reais (US$196 million) for five exploration blocks, they are still waiting for the go-ahead from Brazil's environmental regulator, Ibama.

Saipem’s flagship vessels FDS2 and the Normand Maximus will carry out the work, which will begin in 2019.

Operations South America

U.S. sanctions on Venezuela are an attack against the stability of the global oil market, Venezuelan Oil Minister Manuel Quevedo said on June 21.

La Rosa’s appointment comes after a tense showdown between foreign oil companies and the government in recent months as Venezuela’s political and economic meltdown deepened.

A key plank of CEO Pedro Parente's turnaround campaign for Petrobras and a condition for his taking the job in 2016 was freedom to control fuel prices.

While ConocoPhillips started seizing assets this month, CEO Ryan Lance is telegraphing that the company intends to escalate its campaign against PDVSA across the globe.

Petrobras posted a net profit of 6.961 billion reais (US $1.96 billion) on May 8, a 56.5% rise over the same period last year, helped by asset sales and a pickup in oil prices.

People South America

Grisolia, who served since August 2017 as CFO of Petrobras Distribuidora, Petrobras’ fuel distribution unit, was named to serve until March 2019.

Parente’s departure wiped $11 billion off the market value of the company and marked the highest profile casualty so far of a trucker’s strike that virtually paralyzed Brazil for nearly two weeks.

Venezuela arrested two Chevron Corp. (NYSE: CVX) executives, the U.S. oil major said on April 17, in what appeared to be the first arrests of a foreign oil company’s direct employees during a purge of alleged graft in the OPEC nation.

A six-member executive committee had run the company since its previous CEO, Ricardo Darre, resigned last August. Gonzalez, who served as CFO for six years, formed part of that committee.

Richard Herbert, formerly of BP, will replace Barry Larson as the CEO of Canada's Frontera Energy.

Regulations South America

The French oil major wants to explore Brazil’s Foz do Amazonas Basin, but Brazil's environmental agency rejected its license application on May 29 for a fourth time.

Brazilian oil workers began a 72-hour strike on May 30 in a new blow to President Michel Temer following a nationwide trucker protest that has strangled Latin America’s largest economy for over a week.

The rules passed by the Senate allow PPSA to conclude contracts with trading agents on the government’s behalf or sell the oil directly.

Tullow had planned an initial investment of $200 million to develop the offshore blocks off of Peru’s northern coast, according to Perupetro.

The suit is the latest in a recent series of legal filings seeking to press the cash-strapped oil firm and its refining subsidiary for payment, with actions in recent days by U.S. oil producer ConocoPhillips.